Invesco Ltd. Makes New Investment in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Invesco Ltd. acquired a new stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,339 shares of the company's stock, valued at approximately $409,000.

Several other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ArriVent BioPharma in the 4th quarter valued at $31,000. JPMorgan Chase & Co. lifted its position in shares of ArriVent BioPharma by 183.2% in the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock worth $292,000 after buying an additional 8,050 shares during the last quarter. Barclays PLC boosted its stake in shares of ArriVent BioPharma by 1,124.8% during the 3rd quarter. Barclays PLC now owns 41,522 shares of the company's stock worth $976,000 after acquiring an additional 38,132 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of ArriVent BioPharma during the 4th quarter valued at about $1,117,000. Finally, Rhumbline Advisers raised its stake in shares of ArriVent BioPharma by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock valued at $977,000 after acquiring an additional 3,069 shares in the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AVBP shares. Guggenheim initiated coverage on ArriVent BioPharma in a report on Monday, March 10th. They set a "buy" rating and a $45.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $39.00 target price on shares of ArriVent BioPharma in a research note on Friday, March 7th. Finally, B. Riley assumed coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 target price for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $39.00.

ArriVent BioPharma Trading Up 0.4 %

NASDAQ:AVBP traded up $0.08 during trading hours on Wednesday, hitting $19.77. 124,763 shares of the company traded hands, compared to its average volume of 172,983. ArriVent BioPharma, Inc. has a twelve month low of $15.47 and a twelve month high of $36.37. The firm has a 50-day moving average of $19.69 and a 200 day moving average of $25.08. The stock has a market capitalization of $672.90 million, a price-to-earnings ratio of -7.69 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.18. Equities research analysts predict that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

About ArriVent BioPharma

ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors.